POWERSCHOOL HOLDINGS, INC.
powerschool.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 9, 2024. Its latest SEC filing is a SC 13G/A from Oct 15, 2024.
10-Q for Q2 FY2024, filed Aug 9, 2024
The sections below describe the company as of the FY2023 annual report.
How Did They Make Money?
Schools and districts pay mainly for ongoing access to hosted software, support, and updates through recurring contracts, generally billed annually in advance. They also pay for implementation and other professional services as delivered, and for software licenses when the software is delivered.
10-K for FY2023, filed Mar 1, 2024We offer our software platform through a cloud-based, SaaS business model under contracts with annual price escalators, and we recognize…View ↗
We generally price our SaaS and license agreements at individually negotiated rates with occasional discounts, typically for multi-solution…View ↗
To help customers go live with our software and achieve success, we offer professional services such as professional consultation…View ↗
The Company offers SaaS-based solutions to customers that purchase remote access to its software and its functionality. For the Company’s…View ↗
Professional services revenue is comprised of implementation, consulting, training, and data migration services associated with the…View ↗
The Company licenses software that is distinct and has significant stand-alone functionality (i.e., functional IP). Revenue attributable to…View ↗
$697.7M
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10-K for FY2023, filed Mar 1, 2024
$697.7M ↗
Who Were Their Customers?
Customers include state education departments, public school districts, charter and independent schools, and virtual schools. PowerSchool sells through its account management and product specialist teams.
10-K for FY2023, filed Mar 1, 2024PowerSchool serves the full spectrum of K-12 organizations, including state departments of education, public school districts of all sizes…View ↗
We have a sales and marketing organization of over 432 individuals as of December 31, 2023, that employs a two-pronged go-to-market…View ↗
Our Account Management team services state-level educational entities, districts, and private and charter schools. This team is divided…View ↗
To complement our Account Management sales teams, we have a Solutions Sales team. The Solutions Sales team is comprised of product…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $31.1M in FY2023, but brought in more cash than it spent: $168.4M of free cash flow.
10-K for FY2023, filed Mar 1, 2024
$24.3MView ↗
10-K for FY2023, filed Mar 1, 2024
−$31.1MView ↗
10-K for FY2023, filed Mar 1, 2024
$168.4MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Aug 10, 2024
−$20MView ↗
- ▲ +526% (Loss)
- vs −$3.2M in Q2 FY2023
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Oct 1, 2024
Bain Capital completed its acquisition of PowerSchool
PowerSchool became a wholly owned subsidiary and its stock was no longer publicly listed.
Sources
8-K, filed Oct 1, 2024
On October 1, 2024, pursuant to the terms and subject to the conditions set forth in the Merger Agreement, the Merger was completed, with…View ↗
Grew. Revenue grew 91% in 4 years, from $365M in FY2019 to $697.7M in FY2023, about 18% a year.
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